Use of Bayesian Network characteristics to link project management maturity and risk of project overcost

• URL: http://arxiv.org/abs/2009.09828v1
• Date: Fri, 18 Sep 2020 08:00:25 GMT
• Title: Use of Bayesian Network characteristics to link project management maturity and risk of project overcost
• Abstract summary: This paper uses the characteristics of Bayesian networks to formalize experts' knowledge and to extract knowledge from a project overcost database. It develops a method to estimate the impact of project management maturity on the risk of project overcost.
• Score: 0.0
• License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/
• Abstract: The project management field has the imperative to increase the project probability of success. Experts have developed several project management maturity models to assets and improve the project outcome. However, the current literature lacks of models allowing correlating the measured maturity and the expected probability of success. This paper uses the characteristics of Bayesian networks to formalize experts' knowledge and to extract knowledge from a project overcost database. It develops a method to estimate the impact of project management maturity on the risk of project overcost. A general framework is presented. An industrial case is used to illustrate the application of the method.

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